Clarendon Chamber of Commerce supports OUR's JPS decision

The Clarendon Chamber of Commerce has come out supporting the Office of Utilities Regulation's (OUR) decision to order the Jamaica Public Service Company(JPS) to cut its non-fuel rate, among other things.

The views from the chairman of the chamber, Dr Winston Dawes follows comments from the Private Sector Organisation of Jamaica (PSOJ) that the decision could scare off foreign investors.

The PSOJ says while there is need for effective regulation of any monopoly, the OUR's actions are likely to send the wrong signal about Jamaica’s ability to provide a consistent and predictable legal and regulatory environment.

Dawes says the rate reduction has the potential to disrupt the light and power company’s equipment maintenance and set back its announced power generation expansion plans.

However, he says the decision is a welcomed one.

Dawes says the reduction in electricity rates will have a positive impact on the society as more money will be available for the general public to spend.

He adds that the spending will help to fill shortfalls in government revenue.

Last week, JPS president and chief executive officer, Kelly Tomblin, said it was too early to determine how the OUR's decision will impact the company’s operations.